- 1). Form a living trust with the assistance of a probate lawyer. Living trusts are flexible independent entities that can have assets adjusted upwards and downwards throughout their duration. Trusts have named beneficiaries and are best understood as structures designed to facilitate the execution of a will. Trusts make sure that assets are transferred according to the desires of the trustee without resorting to probate court.
- 2). Look for real estate investment opportunities to place into the living trust. Because living trusts are structured to survive for many decades in order to provide for heirs, it's generally best to select real estate investments that have cash flow, such as commercial real estate. Rental homes, apartments, time shares, hotels and vacation homes are all solid choices to place into a living trust. Secure recurring income can assure that a trust remains well-capitalized.
- 3). Purchase real estate through the mechanism of the living trust. You can also purchase homes as an individual and then transfer the properties into the care of the living trust without paying transaction fees. The process is seamless. You simply need to file a quitclaim deed to the relevant local authority to transfer the property to the trust.